Fitch Solutions expects CBE to keep interest rates on hold till end of 2024

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BMI, a Fitch Solutions company, expected the Central Bank of Egypt (CBE) to keep its monetary tightening policy on hold.

11.07.24 | Source: Ahram Online

This projection was made by Ramona Moubarak, Head of MENA Country Risk & Global Banking at BMI, during a webinar the company held on Wednesday to showcase its update on the MENA macroeconomic outlook for the second half (2H) of 2024 and 2025.

Since January, CBE raised the key interest rates by eight percent (800 bps), bringing the total hikes it has applied since March 2022 to 19 percent (1900 bps).

CBE's Monetary Policy's next meeting is scheduled for 18 July, the first in FY2024/2024 and the fourth in 2024.

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